Businessman arrested for running betting racket

Businessman arrested for running betting racket

Rakesh Jain, a failed businessman, was arrested from his Rohini Sector-11 residence yesterday while he was allegedly indulging in betting during the India v/s Netherlands World Cup cricket match.

Chhaya Sharma, Deputy Commissioner of Police (Outer), said this was the second betting racket involved with World Cup matches smashed in Rohini area in the past three days.
This was the eighth betting racket smashed in the capital after the World Cup cricket began a fortnight ago. Six of the rackets were cracked Crime Branch.

"We received a tip-off during the match that a betting racket was operating in Rohini. This lead was further developed and a raid was conducted following which Jain was arrested," Sharma said.

Jain, who ran a well-established industrial unit in Narela, was fond of betting on cricket matches due to which he suffered a loss of Rs 60 lakh, she said.

"To pay the debts, he had to sell off his industrial unit. After that he opened a medical store in Rohini. But as he had been addict of betting on cricket matches, he had to sell of his shop also," Sharma said, adding, he then planned to start his own racket of punters.
He allegedly purchased required equipment and obtained direct lines to establish his own network for betting during the World Cup as well as hired a premise.

"He was also using direct line mobile instruments and laptop with broad band connection to view for obtaining the latest fluctuating rates for the stake," Sharma said.

Jain told investigators that the rates of the odds originates from outside the country. On this basis, bets are taken during the match.

"The rates keep on fluctuating with the fall of wickets, the runs scored and overs remaining. In a 50-overs match, generally there are 5 sessions of 10 overs each and betting is done separately on each session," Sharma said.

A laptop, two broad band Internet connections, an LCD, three mobile phones and two mobiles instruments with direct- line facility were recovered from him.